Fidelity Bank issues $300m Eurobond

Fidelity Bank last week issued a 5-y $300m Eurobond with a coupon of 6.875%. The issue price was 99.48 and the spread 635 basis points (bps) over United States Treasuries UST (implying a 7% yield). Analysts say, fair value was probably initially between 6.5% and 6.75%, slightly below the actual yi